Gray Television (NYSE:GTN) had its price objective boosted by Benchmark from $20.00 to $26.00 in a report issued on Tuesday morning. Benchmark currently has a buy rating on the stock.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Gray Television from a buy rating to a hold rating in a report on Tuesday, May 29th. ValuEngine downgraded Gray Television from a sell rating to a strong sell rating in a report on Friday, June 8th. Noble Financial reiterated a buy rating on shares of Gray Television in a report on Thursday, May 10th. TheStreet downgraded Gray Television from a b- rating to a c rating in a report on Thursday, April 26th. Finally, Royal Bank of Canada lifted their price objective on Gray Television to $19.00 and gave the stock an outperform rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $20.86.
Gray Television opened at $15.80 on Tuesday, according to MarketBeat. Gray Television has a twelve month low of $10.70 and a twelve month high of $17.80. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 1.85. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.45 and a beta of 2.50.
Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, May 8th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Gray Television had a return on equity of 11.06% and a net margin of 29.97%. The business had revenue of $226.26 million for the quarter, compared to the consensus estimate of $225.41 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. analysts predict that Gray Television will post 1.83 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Gray Television by 15.2% in the first quarter. BlackRock Inc. now owns 5,226,987 shares of the company’s stock worth $66,382,000 after buying an additional 691,079 shares during the period. Royal Bank of Canada grew its stake in shares of Gray Television by 8.9% in the first quarter. Royal Bank of Canada now owns 4,284,476 shares of the company’s stock worth $54,414,000 after purchasing an additional 350,549 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Gray Television by 1.6% in the first quarter. Victory Capital Management Inc. now owns 2,496,878 shares of the company’s stock worth $31,711,000 after purchasing an additional 39,196 shares during the last quarter. Clearbridge LLC grew its stake in shares of Gray Television by 7.1% in the fourth quarter. Clearbridge LLC now owns 2,034,954 shares of the company’s stock worth $34,085,000 after purchasing an additional 134,960 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Gray Television by 5.5% in the first quarter. Loomis Sayles & Co. L P now owns 1,718,976 shares of the company’s stock worth $21,831,000 after purchasing an additional 90,080 shares during the last quarter. Hedge funds and other institutional investors own 88.01% of the company’s stock.
Gray Television Company Profile
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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